Photo : CNET.com

American Express Gold Card Vs Chase Sapphire Preferred Card: Which Is The Best?

American Express® Gold and Chase Sapphire Preferred® cards are popular mid-range travel cards. They don’t cost as much to maintain as their premium offerings, but they do have relatively average annual rates, with travel benefits and, in some cases, dining benefits.

The Gold Card is advertised as a travel and dining card packaged into one card and is a unique offer on select American Express cards. Sapphire Preferred, on the other hand, is simply described as a travel credit card. The annual fee reflects these differences. The Gold Card is $250 per year (see rates and fees) and the Sapphire Preferred is $95 per year.

If you’re looking for a travel rewards card, even if you eat a lot, Chase Sapphire Preferred offers a better value overall. However, the extra cost of a Gold card can be advantageous if you have a particularly high catering budget and want to redeem your rewards on the flight.

Below, we compare the different aspects of these cards to help you decide which one is best for your financial situation and goals.

Annual Fee Comparison

Most mid-tier travel cards, like the Chase Sapphire Preferred Card, have an annual fee of $95. The gold card price of $250 is a significant increase. The benefits may outweigh the annual fees for both cards for most people, but there’s no question that Chase offers better rates for gold.

welcome offer

Welcome benefits are the same whether earned with Amex Membership Rewards points or Chase Ultimate Rewards points. When you spend $4,000 within the first 3 months of opening an account with both cards, you earn 60,000 points. The evaluation of the use of these points is what determines which offer is the best.

AMEX Membership Rewards points are only 0.7 cents when redeemed for statement credit, so $420 is accepted in this case. Enjoy the highest redemption rate of 1 cent per point on flights booked through American Express Travel. So Gold Card Welcome offers a value of up to $600.

Meanwhile, the Chase Sapphire Preferred Welcome Offer is worth between $600 and $750, depending on the redemption method. When you redeem for cash back, you’ll receive 1 cent per point corresponding to the highest welcome offer on the $600 Gold card. However, you can get even more value when you use your points to travel through the Chase Ultimate Rewards portal. 25% more points for a welcome offer with a total value of $750.

Rewards and exchange

As mentioned above, how you use your rewards makes a big difference when comparing the two card rewards programs. But no matter which repayment method you prefer, Chase Sapphire Preferred offers more flexibility and higher repayment value.

The Gold Card earns you 4 points for US restaurants, takeout and delivery, 4 points at US supermarkets (1% after spending up to $25,000 per year), or 3 points for flights booked through amextravel. 1x Points on purchases made directly from .com or airlines and other qualifying purchases. The focus is entirely on food and flights, with return rates ranging from 2.8% (statement balance) to 4% (flights booked through American Express Travel), depending on how you use your Membership Rewards points.

With Chase Sapphire Preferred, you can earn 5 points for travel booked through Chase Ultimate Rewards, 3 for dining, 2 for all other travel purchases and 1 for other regular purchases.

The points to eat with a hunt may seem low at first glance, but your options for using it are a big factor. When you use your points for travel booked through the Chase portal, you can enjoy a 25% increase in your spending. So you can earn up to 3.75% on dinner (up to 6.25% on trips).

General trips and privileges

Terms and conditions apply to American Express benefits and offers. Registration may be required for certain American Express benefits and offers. For more information, visit Americanexpress.com.

The Gold Card is undoubtedly a win for Sapphire Preferred when it comes to travel and other benefits. If you can take advantage of some of the additional Gold Card offers, you may not mind paying the higher annual fee.

The Gold Card offers various credits related to travel and dining. You can earn up to $120 per year in meal credits. Amex offers up to $10 off your statement balance each month when you use your card at participating vendors like Grubhub, Seamless, Goldbelly, Wine.com, Milk Bar, and find Shake Shack and Cheesecake Factory locations. You must register for the credits to appear.

When you add a Gold Card to your Uber account, you’ll receive $10 in Uber Cash (for Uber or UberEats orders) per month, for a total of $120 per year. A $100 Hotel Collection credit will reimburse you for certain eligible hotel services, such as dining or spa services, when you book a minimum 2-night stay at “The Hotel Collection”, a selection of more than 600 hotels.

Neither card offers international transaction fees, so there are no additional fees for international purchases and some forms of travel insurance*. The only difference is that Sapphire Preferred offers point-to-point transfers with partner airlines. If you travel often, this can be helpful, especially since Chase Sapphire Preferred offers better rewards than many airline credit cards.

In general, Chase Sapphire Preferred is more valuable to most cardholders, especially those looking to use their points for travel. However, if you have access to extra food and travel credit, your Gold card may be worth it.

Questions and answers

How do travel credit cards work?

Travel credit cards give you points or miles for purchases you can use for travel, like flights and hotel stays. You can sometimes redeem these points for cash or gift cards, but you usually get the best rates when you book travel. The best maps have their own travel booking portal where you can find flights, hotels, and car rentals. Points are sometimes more valuable when redeemed at these credit card company portals.

What additional benefits do travel credit cards usually offer?

Most premium travel credit cards that charge high annual fees include benefits that add extra value. The most common benefits of a regular travel card are travel accident insurance, trip cancellation insurance, flight delay compensation or protection, lost luggage compensation, and rental car accident insurance. Premium travel cards often offer on-the-go upgrades, travel credits, and other premium benefits.

What is a Premium Travel Card?

Premium travel cards are more expensive than most travel credit cards and typically have fees of several hundred dollars per year. Therefore, they offer better benefits than regular travel cards, such as higher reward rates, more annual credits, or better travel upgrades. It is usually sold to people who travel frequently. The Platinum ® Card from American Express and the Chase Sapphire Reserve ® Card are popular premium travel cards.

Our approach to credit card scores

We review the most popular cards to offer you the best deals. When opening an account, we pay close attention to the smallest details so you won’t be surprised. We find the key factors that make our cards special and compare them to the other top cards. In this way, readers can opt for other cards with similar characteristics if our selection does not suit them. Our reviews are regularly reviewed and updated to include new recommendations and reflect changes in our products and markets.

Click here for American Express Gold Card rates and fees.

*Eligibility and benefits vary by card. Terms and conditions and restrictions apply. For more information, visit americanexpress.com/benefitsguid. The underwriting was done by Amex Assurance Company.

The editorial content of this page is based entirely on the objective and independent reviews of our authors and is not influenced by advertising or associations. It is not provided or endorsed by any third party. However, we may receive compensation if you click on links to products or services offered by our partners.

Article Source : https://www.cnet.com/personal-finance/credit-cards/american-express-gold-card-vs-chase-sapphire-preferred-card/

Leave a Reply

Your email address will not be published.